Litagra is entering the turkey farming business

Litagra, one of the largest Lithuanian agricultural business groups, is entering the turkey farming business. Sūduvos Ūkis, a subsidiary of Joniškio Grūdai, which is managed by Litagra, acquired 29 farms and a fodder factory located in Marijampolė district.

“We believe that the food sector in Lithuania has great prospects, which is why we are actively investing in this area,” Mindaugas Bareišis, head of Litagra Group, said.

According to him, Joniškio Grūdai has been operating in the poultry business since 2018, when the 10-farm broiler breeding complex Šilų Ūkis, operating in the Panevėžys district, began operations.

According to Reda Siaurusaitienė, head of Joniškio Grūdai, Sūduvos Ūkis plans to grow 7 thousand tons of turkey per year.

“Turkey is considered one of the healthiest meats, it rarely causes allergies, it is easy to digest, it is low in cholesterol but rich in zinc, iron, phosphorus, amino acids and proteins – it practically replaces red meat. Chicken is an extremely lean meat and has a great balance of protein and, like turkey, is rich in amino acids. Due to these characteristics, the consumption of poultry in global markets is constantly growing, so we continue to foresee business development in this segment,” said R. Siaurusaitienė.

The transaction, as well as the development of Šilų Ūkis in 2018, was financed by SEB bank. According to Vilius Juzikis, SEB bank board member and head of the Business Banking Service, large and efficient growers are extremely important for Lithuanian processors who want to compete with the supply of poultry from neighbouring Poland, as well as for domestic consumers who choose meat grown in Lithuania.

“We value the long-term cooperation with the Litagra business group and are sincerely happy to be the company’s financial partner. Therefore, if the group decides to enter the business of growing turkeys and expand feed production, we can contribute to its ambitious investment plans, help it grow and increase the competitiveness of its operations”, says V. Juzikis.

The largest shareholders of Litagra are the company’s founder Gintaras Kateiva and the investment management and life insurance group Invalda INVL.